Token Vesting Calculator
Model any token vesting schedule — with a TGE unlock, an optional cliff, and linear vesting after. Compute the unlocked amount at any date, see the remaining locked balance, and read the full month-by-month unlock schedule.
COMMON SCHEDULES
ALLOCATION
TIMELINE
VALUATION
The curve shows cumulative unlocked tokens across the whole schedule. The vertical marker is your as-of date. Below it, the phase bar breaks the timeline into its parts: TGE unlock, cliff, linear vesting, and completion.
Every month from the vesting start to completion, showing the tokens released in that month, the cumulative unlocked total, and the percentage vested. The row for the current month is highlighted.
| MONTH | DATE | UNLOCK THIS MONTH | CUMULATIVE UNLOCKED | % VESTED | REMAINING LOCKED |
|---|---|---|---|---|---|
| Enter valid inputs to see the schedule. | |||||
Token vesting is a contractual schedule that releases an allocation of tokens over time rather than all at once. It is one of the most important pieces of tokenomics, because it determines when supply actually enters the market — and therefore how much future sell pressure has already been priced in versus how much is still ahead. A team grant that vests over four years with a one-year cliff means the team cannot dump their tokens at launch; it means they are incentivised to keep building.
Linear vesting is a straight line
The simplest schedule releases tokens at a constant rate: each month, the same number unlocks. The formula U = A × (E/P) captures this directly — the unlocked fraction is just the fraction of time elapsed. On a chart, this is a straight diagonal line from the cliff end to the final vesting date.
The cliff is a hard pause
A cliff is a period during which no linear vesting occurs. During the cliff, the only tokens that have unlocked are the TGE portion. When the cliff ends, linear vesting begins — and if the schedule uses "cliff then linear," the entire cliff amount can be considered released at the moment the cliff ends, making it a step up on the chart.
TGE unlocks set the initial float
At the Token Generation Event, many projects release a small percentage of each allocation to establish initial liquidity and give early participants something to trade. A typical pattern is 10–20% at TGE, then a 6–12 month cliff, then linear vesting of the remaining 80–90% over the following months or years.
Unlocks create supply pressure
When a large unlock hits the market, existing holders know more supply is about to become tradable — and the price often declines into the event as traders position ahead of it. The bigger the unlock relative to daily trading volume, the more pronounced the effect. This is why long cliffs and long vesting schedules are considered favourable for token holders: they spread the supply over time rather than concentrating it in a few weeks.
Common vesting patterns by beneficiary type
| Beneficiary | Typical cliff | Typical duration | TGE unlock | Notes |
|---|---|---|---|---|
| Founders / Team | 12 months | 36–48 months | 0% | Longest and strictest; signals long-term commitment |
| Seed investors | 12 months | 24–36 months | 0–5% | Reflects the discount at which seed tokens were sold |
| Private / strategic | 6–12 months | 18–24 months | 5–15% | Often includes a small TGE unlock for early liquidity |
| Public sale | 0 months | 6–12 months | 20–50% | Retail buyers usually expect immediate or near-immediate liquidity |
| Advisors | 6 months | 18–24 months | 0% | Shorter cliff than team, similar monthly rate |
| Ecosystem / Grants | 0–6 months | 24–48 months | 0–10% | Often released on milestones rather than time |
| Treasury | Variable | Multi-year | Variable | Governed by DAO; unlocked on an as-needed basis |
Worked example — a private round allocation
Allocation A = 1,000,000 tokens
TGE unlock t = 10%
Cliff C = 6 months
Total duration P = 18 months
As-of date = 12 months after the vesting start
Step 1 — TGE portion
TGE amount = A × t = 1,000,000 × 0.10 = 100,000 tokens
Step 2 — Linear portion
Linear allocation = A − TGE = 900,000 tokens
Linear duration = P − C = 18 − 6 = 12 months
Step 3 — Elapsed months since cliff
Elapsed = 12 months
Months past cliff = 12 − 6 = 6 months
Step 4 — Linear unlocked
Linear unlocked = 900,000 × ( 6 ÷ 12 ) = 450,000 tokens
Step 5 — Total unlocked
U = 100,000 + 450,000 = 550,000 tokens
% vested = 550,000 ÷ 1,000,000 = 55.0%
Verification with the simple formula on the linear portion only:
U = A·t + A·(1−t)·(E−C)/(P−C)
U = 100,000 + 900,000 × (12−6)/(18−6) = 550,000 ✓
Frequently asked questions
A cliff is a period during which no linear vesting occurs — the beneficiary receives only their TGE unlock, if any. The standard is a 12-month cliff for team and seed allocations. The purpose is alignment: a cliff ensures the beneficiary cannot receive any meaningful portion of their allocation for at least a year, so their interests stay with the project through the risky early phase. Without a cliff, a team could theoretically dump their entire allocation within weeks of launch, which would be disastrous for the token price and for investor confidence. When the cliff ends, the linear vesting begins — and some schedules release the entire cliff-accrued amount at that moment as a step-up, while others simply begin linear vesting from zero.
The TGE unlock — sometimes called a "TGE release" or "initial unlock" — is the percentage of an allocation that becomes available immediately at the Token Generation Event, before any cliff or linear vesting applies. It is the mechanism by which early investors and contributors get some immediate liquidity to hedge their position or to cover costs. Typical values range from 0% for team allocations to 20–50% for public sales. From the token's perspective, the TGE unlock is the initial float — the supply that is genuinely tradable on day one — which is often much smaller than the total supply because most allocations are still locked.
No — linear vesting is the most common, but several other patterns exist. Milestone-based vesting releases tokens when specific product or business milestones are achieved, which can produce very irregular schedules. Some schedules use a step function with quarterly or annual unlocks rather than continuous monthly vesting. Others front-load or back-load the release — for example, "6 months of cliff, then 25% at cliff, then linear over 30 months." This calculator models the standard linear pattern with optional cliff and TGE, which covers the vast majority of real-world schedules. For step-based or milestone-based schedules, you can still use the calculator by checking the unlocked amount at the specific dates the steps occur, then reading the cumulative figure.
The vertical step appears when there is a TGE unlock — a percentage of the allocation released on day one, before the cliff. On the chart, this shows as an immediate jump from zero to the TGE amount at the very start of the schedule. After that, the curve is flat through the cliff, then rises linearly until completion. A second smaller step can occur at the cliff end if the schedule releases the cliff-accrued amount in a lump. The curve on this calculator shows only the TGE step; the linear portion is genuinely linear, since we assume continuous rather than step-based vesting within the linear phase.
Look at the project's tokenomics documentation, whitepaper, or their listing page on a data aggregator like CoinGecko or CoinMarketCap. Most projects publish a "token release schedule" or "vesting schedule" chart showing the cumulative unlock curve over time. Some also publish the raw numbers as a spreadsheet. If you cannot find it, tools like TokenUnlocks or CryptoRank aggregate unlock schedules from project documentation and often show the next major unlock and its size. The most important things to identify are: the cliff duration for each category (team, investors, advisors), the total vesting duration, the TGE unlock percentage, and the monthly or quarterly unlock rate.
Yes — unlocks are one of the most closely watched events in a token's calendar, and their effect on price is often significant. When a large unlock is coming, traders position ahead of it, and the price frequently declines in the weeks before the event. The size of the effect depends on the unlock relative to daily trading volume: a $50 million unlock in a token with $10 million daily volume is a very different event from the same unlock in a token with $500 million daily volume. Larger, longer vesting schedules with small monthly unlocks tend to produce smoother price action; shorter schedules with large cliff releases produce sharper events with more volatility around the unlock date.
Vesting always applies forward from a start date, but the start date itself is often chosen retroactively. A project may define the TGE date as the start date and then apply vesting from that point, even if the grant was technically issued months before. Some schedules also use a "backdated start" to give early contributors credit for time already served. In practice, what matters for analysis is the effective start date — the date from which the vesting clock begins counting — which is usually the TGE for post-launch grants, or the date of the grant agreement for ongoing contributors. When in doubt, use the date published in the tokenomics documentation.
Vesting acceleration is a clause that releases tokens faster than the original schedule in specific circumstances. Two common triggers exist. Time-based acceleration releases the remaining allocation when a project reaches a major milestone such as a mainnet launch or a token listing. Change-of-control acceleration releases the remaining allocation if the project is acquired or if the founder leaves. Both types of acceleration are negotiated into the original grant agreement and are usually disclosed in the tokenomics documentation or in the project's legal filings. If a schedule includes acceleration clauses, the actual unlock curve can be materially different from the plain linear model this calculator shows — treat the calculator as the base case and add acceleration manually if needed.
How to Use This Calculator
Enter the allocation, the schedule shape, and the date you want to know about — the calculator handles the rest.
1. Load a preset or start custom
The presets cover the most common vesting shapes: team grants, seed rounds, private rounds with a TGE unlock, advisor allocations, and public sale schedules. Click Custom to enter your own values.
2. Enter the allocation
The total number of tokens allocated to this beneficiary. Use the token count from the grant agreement or the tokenomics table, not a USD value.
3. Set the TGE unlock
The percentage that unlocks immediately at the Token Generation Event. Set to zero if the schedule begins with a cliff and no immediate release.
4. Set the start date, cliff and duration
The start date is when the vesting clock begins. The cliff is the initial pause. The total duration is the full vesting period including the cliff. Make sure the duration is greater than the cliff, or the cliff will consume the entire schedule.
5. Set the as-of date and optional price
The as-of date defaults to today but can be moved to any future or past date. The token price is optional and only adds USD figures to the output.
6. Read the result and schedule
The result card shows the unlocked amount, the percentage vested, the remaining locked balance, and the time elapsed versus remaining. The chart below shows the full unlock curve, and the table gives the month-by-month breakdown.
What This Tool Offers
A complete model of token vesting, from the basic formula to the full unlock schedule.
Three-phase vesting model
TGE unlock, cliff, then linear vesting — the structure that covers the vast majority of real schedules. Cliff and TGE can be set to zero to reduce to the simple linear formula.
Full unlock curve
The complete curve from vesting start to completion, with the cliff period shaded, the as-of date marked, and the total allocation line drawn for reference.
Monthly unlock schedule
Every month from start to completion, showing the amount released that month, the cumulative unlocked total, the percentage vested, and the remaining locked balance. The current month is highlighted.
Any as-of date
Move the as-of date to any point in the future or the past to see what will have unlocked or what had already unlocked. Works for both planning and historical review.
Step-by-step working
Every calculation shown line by line: the TGE portion, the linear allocation, the months past the cliff, the linear unlocked amount, and the final total. Includes the applicable formula for the current phase.
Reference and education
Typical vesting patterns by beneficiary type, a worked example, and clear explanations of cliffs, TGE unlocks, and how unlock schedules interact with token price.
What Does Token Vesting Measure?
Token vesting is a contractual mechanism that releases an allocation of tokens over time rather than all at once. It answers a specific question for any given date: how many of the allocated tokens have unlocked, and how many are still locked? The answer matters for tokenomics because it determines the future supply that will eventually enter the market, and therefore how much dilution current holders face in the months and years ahead.
The Formulas
The basic linear formula, without cliff or TGE unlock:
Where U is the unlocked amount, A is the total allocation, E is the elapsed time since the vesting start, and P is the total vesting period. As long as E is measured in the same units as P — months, days, quarters — the ratio E/P is the fraction vested.
The full three-phase formula, with cliff C and TGE unlock percentage t:
If 0 < E ≤ C: U = A × t
If C < E < P: U = A·t + A·(1−t) · ( E − C ) ÷ ( P − C )
If E ≥ P: U = A
And the two derived quantities that matter most:
% Vested = U ÷ A × 100
Notice the structure. During the cliff, only the TGE portion has unlocked and the total is constant at A × t. Once the cliff ends, the remaining allocation vests linearly over the remaining time (P − C), so the rate of unlock after the cliff is A × (1 − t) ÷ (P − C) tokens per unit of time.
Why Vesting Exists
Vesting solves an alignment problem. If a team could sell their entire allocation the day a token lists, their incentives would be entirely different from those of the buyers who bought at the listing price. They could cash out, and if the project later failed, they would have lost nothing. Vesting forces the team to be exposed to the same risk as everyone else: their tokens unlock over years, not weeks, so their payout is tied to whether the project succeeds long-term.
The same logic applies to investors. A seed investor who bought tokens at a 90% discount to the listing price has an enormous incentive to sell immediately at listing if they can. Vesting prevents this: the seed investor's tokens unlock over the following years, so they cannot realise their gain until the token has a chance to establish itself. From the public buyer's perspective, a long vesting schedule on insider allocations means less future sell pressure and a more balanced distribution of supply.
The third purpose is price stability. A token where 60% of supply unlocks in the first six months will experience repeated episodes of supply shock as each unlock hits the market. The same token with a smooth four-year linear vesting from a 12-month cliff will have a much more gradual increase in tradable supply, with each month adding only a small fraction to the float. This reduces the potential for violent price moves around unlock dates and gives the market more time to absorb new supply organically.
The Cliff and Its Purpose
The cliff is the single most important parameter in a vesting schedule, because it defines the duration of the lockup before anything vesting-related happens. A 12-month cliff means that for the first year after the start date, no linear vesting occurs. The beneficiary has only their TGE unlock, if any. Only when the cliff ends does the monthly or quarterly release begin.
The cliff creates a hard commitment test. If a contributor leaves within the cliff period, they typically forfeit the entire unvested allocation — including the portion that would have vested had they stayed. This is a strong retention mechanism, which is why it is standard practice for team and founder grants. The longer the cliff, the stronger the commitment, but also the harder it is to attract talent — most projects settle on a 12-month cliff for team and founders, 6 months for advisors and private round investors, and 0 months for public sale participants.
Some schedules use a "cliff then linear" model where the entire cliff-accrued amount releases in a lump when the cliff ends. For example, a 12-month cliff on a 48-month schedule might release 25% at the cliff end (representing the first year), then 1/36 of the remainder each month for the following 36 months. This calculator models the simpler case where only the TGE portion is unlocked during the cliff and the remainder vests linearly — the standard pattern for most token grants.
Unlocks and Token Price
The relationship between unlocks and price is one of the most studied topics in crypto market structure. The general finding is that large unlocks relative to daily trading volume produce price weakness in the weeks leading up to the unlock date, and often a further decline after the unlock as newly released tokens are sold into the market. The effect is strongest when the unlock is a cliff release — a large, sudden increase in tradable supply — and weakest when the unlock is one of a long series of small monthly increments.
The magnitude of the effect depends on several factors. The absolute size of the unlock relative to daily volume is the most important — a $100 million unlock in a token trading $5 million per day is catastrophic; the same unlock in a token trading $500 million per day is barely noticeable. The recipient matters too: a team unlock is often held rather than sold, while an investor unlock frequently triggers profit-taking. And the market regime matters: in a bull market, unlock-driven dips are often bought aggressively; in a bear market, they compound existing weakness.
For anyone holding a token, the single most useful thing to know from the vesting schedule is what percentage of supply will enter the market over the next twelve months, and specifically when the largest monthly unlocks will occur. A token with 15% of supply unlocking over the next year in smooth monthly increments is a very different proposition from one with 15% unlocking in a single cliff next month, even though the annual total is the same. The schedule matters as much as the total.
Practical Notes on Using Vesting Data
Three cautions apply when working with vesting schedules. First, the reported circulating supply of a token can differ from the amount that is genuinely tradable. Some projects count tokens held in treasury or allocated to market makers as circulating even though they are not actively in the market. When estimating future supply pressure, it is worth checking whether the published circulating supply includes treasury allocations or only the free float.
Second, unlock schedules change. Projects sometimes renegotiate vesting terms with investors, accelerate grants to departing team members, or modify schedules in response to market conditions. A schedule published at launch may not be the schedule that plays out two years later. Cross-check between the original documentation and current aggregator data.
Third, the pure vesting schedule does not capture staking. Many proof-of-stake tokens are staked for a period after unlocking, which reduces the immediate tradable supply even if the tokens are technically unlocked. A token whose vesting schedule looks aggressive may still have a moderate circulating supply if most of the unlocked tokens are staked rather than sold. Conversely, a token with a benign vesting schedule may experience sell pressure if unlock recipients decide not to stake and instead sell immediately.
Frequently Asked Questions
The FAQ section above covers the most common practical questions — what a cliff is, how TGE unlocks work, whether vesting is always linear, why the curve shows a step, how to find a token's schedule, how unlocks affect price, whether vesting can be retroactive, and how acceleration clauses work. Scroll back to the analysis card if you skipped it.
Variables
| Symbol | Quantity | Unit |
|---|---|---|
| Unlocked Amount | Tokens unlocked so far | coins |
| Total Allocation | Total tokens allocated to the vesting schedule | coins |
| Elapsed Vesting Time | Time elapsed since vesting began | months |
| Total Vesting Period | Total length of the vesting schedule | months |
What it means
Vesting schedules lock tokens for a period, unlocking gradually. This formula calculates the total unlocked at a given time. It is used by investors and projects to track releases and to anticipate supply pressure. Understanding vesting is essential for evaluating tokenomics and for timing investment decisions. It helps in forecasting future circulating supply and potential selling pressure. It is a key part of due diligence for token investments.
Worked example
Token Vesting Unlock Amount – Two Detailed Examples
Real‑World| Parameter | Value |
|---|---|
| Total Allocation | 1,000,000 |
| Vesting Period | 48 months |
| Elapsed Time | 12 months |
| Parameter | Value |
|---|---|
| Allocation | 500,000 |
| Vesting | 24 months |
| Elapsed | 6 months |
Common mistakes
- Total allocation: The total number of tokens allocated to the recipient.
- Elapsed vesting time: The time that has passed since the start of vesting.
- Total vesting period: The total duration of the vesting schedule.
- Unlocked amount: The number of tokens that have become available.
- Cliff periods: Some tokens have a cliff – no tokens unlock until a certain date.
Applications
Token vesting unlock amount calculates the tokens released from a vesting schedule at any given time. This is important for investors and team members to know their available liquid tokens. By understanding the unlock schedule, they can plan their selling strategies and manage price impact. Projects also use this to communicate token distribution. Understanding vesting unlocks is crucial for token economics and market analysis.
- Tracking available tokens for sale or liquidity
- Planning token sales to avoid market impact
- Understanding the project's token distribution timeline
- Assessing the dilution impact of future unlocks
- Educational understanding of vesting and lock‑ups
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